In the same way that Cash Receipts are automatically assigned a Transaction Date based on their Deposit Date, Manual Checks Transaction Dates should be based on their Check Date. In my 25 years as an accountant and consultant, I can't remember needing a check posted to a date other than its check date.
This would enable users to place checks with varying months in the same batch, such as when prepaid rent checks are generated. This saves time and is more intuitive, to me at least.
by: Brian C. | over a year ago | Financial Management
Comments
This has been an issue for me for years! I definitely think this needs to be changed.
This also causes problems with bank reconciliation agreement to the general ledgers. At minimum there should be something to keep the check from being in one month and the g/l posting in a separate month.
This really needs to be done. I do not understand the logic behind why it is not that way. I am considering having a extended solution written for this.
YES!!! Also add option for ALL transactions to be posted by transaction date. My team spends lots of time correcting transactions - especially invoices - that were dated in different months between modules, making our AP/AR Detail and our Bank Recs not reconcile with the GL.
I also cannot think of any situation where the sub ledger should have a different date than the General Ledger.
If you don't want to program that to be the case, at least give an option so that we can choose it rather than always having to be careful about choosing the correct date.